CALCMONEY // MORTGAGE // TX
Calculate your monthly mortgage payment using Texas-specific property tax rates, current average interest rates, and local median home prices.
Open Full Calculator$340,000
6.9%
1.8%
None
How today's 6.9% rate compares to recent years
| Period | 30-Yr Rate | vs. Today |
|---|---|---|
| 2026 (current) | 6.9% | — |
| 2024 avg | 7.32% | -0.42% |
| 2023 avg | 7.75% | -0.85% |
| 2022 peak | 7.58% | -0.68% |
| 2021 avg | 3.50% | +3.40% |
| 2020 avg | 3.30% | +3.60% |
Rate estimates based on Freddie Mac Primary Mortgage Market Survey national averages adjusted for Texas market conditions. Actual rates vary by lender and borrower profile.
| Principal & Interest | $1,791 |
| Property Tax | $510 |
| Homeowners Insurance (est.) | $113 |
| Total Monthly Payment (PITI) | $2,415 |
$68,000
$372,901
$103,488/yr
The median home price in Texas is $340,000, near the national median of $420,000. With a median household income of $67,700, the price-to-income ratio is 5.0x.
Property taxes in Texas average 1.8% of assessed value. On the median home, that is $6,120 per year, or $510 per month added to your mortgage payment. This is significantly above the national average of 1.1%, making property taxes a major factor in your total housing cost.
Texas has no state income tax, which means more of your gross salary goes to your take-home pay. This effectively increases your purchasing power compared to states with income tax.
The cost of living index in Texas is 94 (national average = 100). Everyday expenses beyond housing are close to the national average.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $272,000 loan saves $12,240 in interest over 30 years.
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